Erase The Stress Of Selling Your Business By Finding The Right Buyer
MergersCorp
Award Winning Global Investment Banking Firm with focus on Corporate Finance & Cross Border Mergers and Acquisitions
Ill health, retirement, stagnation of business growth and profitability, the opportunity to explore other areas of interest, or even the stagnation of the founder’s career are some of the reasons why people sell their businesses. Irrespective of the reason behind the sale, every founder hopes to find the right buyer within the shortest period of time and without much struggle, something that is far from the truth. In essence, selling a business can be stressful and a constant source of anxiety for the founder. However, you can erase the stress of selling your business by finding the right buyer using the following strategies.
Who is the right buyer?
The dream of every business founder is to see the business prosper long after its exit. Therefore, the right buyer will not only pay the right price but will also share in your vision for the business, have the resources to grow the business beyond your imagination, retain or improve the culture of the business and ensure that all the stakeholders – employees, clients, suppliers, partners and the community- are happy and content.
It is therefore a necessity to define the characteristics of your ideal buyer. What kind of business experience and style should they have? Should they possess certain personal characteristics? What characters would be a turn-off for you? By defining the kind of buyer you want, you create a criterion to sift through the interested parties and eliminate those who do not meet your standards with ease. This in itself eliminates some stress.
Finding the right buyer
After defining the right buyer, you must identify an expert to assist you in the sale. But why is this important? Business brokers have been selling businesses for a long time and have the know-how, skills, and experience you need to make the process as efficient as possible. They also have a vast network that could be vital in attracting the right buyer within a shorter period of time.?The broker must have experience selling businesses in your niche area, should be willing to customize the selling experience to your needs, and must value teamwork for this journey to be stress-free.
Create a listing or advert
Once the broker is on board and understands what you want to achieve, you can create a listing or advert for your business. This should be as comprehensive as possible but should not be too long. It should contain the key characteristics of your business and what makes it a great acquisition. Include information on the geographical location, photos of the business if possible, the business category, the needs it services in the market, and important financial information. Remember to include the contact information to provide more information on the business to interested parties.
Prescreen all interested individuals
Use the criterion defined earlier to prescreen all interested individuals. Then eliminate jokers and other buyers who do not meet the criterion. Then carry out a detailed background check on those prequalified. And gain an in-depth understanding of their identity and their actions for your business.?But is this really necessary? It is, because, most people will tend to bring their best foot forward during a competitive process and may therefore omit nasty details that may disqualify them.
The background checks should ensure that the potential buyers are legally permitted to operate in the state, that they can easily obtain the licenses required to continue running the business, that they have the leadership abilities to grow the business beyond its current horizons, and that they do not have any ill intentions with respect to the existing stakeholders. It is also a great opportunity to check out the references provided by interested parties.
Ask buyers to make a presentation
Request the shortlisted buyers to make a presentation. It should cover why they think they suit the criterion to acquire the business. And what their plan will be after the acquisition. This is the stage where you critically evaluate the financial offer vis a vis the non-financial offer. The buyer who strikes a balance between the two should win.?In some cases, you may be required to compromise either on the finances. This is just to make sure that the business is bought by the person with the greatest potential and passion to grow it. However, you may opt to re-advertise the business if the offers on the table are not as attractive as you had hoped.
The contract drafting phase
Then let the experts take over the contract drafting phase. They will oversee the signing stage. As well as ensure that the business is transferred in the best possible way once the funds have been received. Erase The Stress Of Selling Your Business and explore your next idea. Or just retire in peace.
For more information about Investment Banking, Cross Border M&A, Buying and Selling a Business visit: https://www.mergerscorp.com
Free Business Valuation = https://www.mergerscorp.com
Established Businesses for Sale = https://www.mergerscorp.com/listings
领英推荐
Subscribe to our Official YouTube Channel: https://www.youtube.com/@mergerscorpmainternational8228
? Visit Website: https://www.mergerscorp.com/
? Follow us on LinkedIn: https://www.dhirubhai.net/company/merg...
? Like us on Facebook: https://www.facebook.com/mergerscorp/
? Follow us on Instagram: https://www.instagram.com/mergerscorp/
?Copyright: MergersCorp M&A International
Email: [email protected]